{"id":129083,"date":"2018-06-26T09:39:22","date_gmt":"2018-06-26T13:39:22","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=129083"},"modified":"2018-06-26T06:35:11","modified_gmt":"2018-06-26T10:35:11","slug":"lean-hogs-analysis-estimates-of-lower-us-demand-bearish-for-lean-hogs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/lean-hogs-analysis-estimates-of-lower-us-demand-bearish-for-lean-hogs\/","title":{"rendered":"Lean Hogs Analysis – Estimates of lower US demand bearish for Lean Hogs"},"content":{"rendered":"
June 26, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

Estimates of lower US demand bearish for LHOG<\/strong><\/p>\n

June WASDE report estimates lower pork production in 2018 on lower current prices and commercial demand. Will the LHOG<\/a> continue declining?<\/p><\/blockquote>\n

The US Department of Agriculture WASDE June report estimated pork production for 2018 will be lower as signs of weaker demand based on current pace of second-quarter slaughter and lower-expected commercial slaughter in the third quarter. Separately, spot weaner pig volume was below average last week, at 30,794 head reported – this is 97% of the 52-week average. And spot prices for weaner pigs declined too, for the second consecutive week. Estimates of US lower demand is bearish for pork prices.<\/p>\n

\"LHOG\"<\/p>\n

On the daily timeframe the LHOG: D1<\/b> is testing the 50-day moving average MA(50) which has leveled off, this is bearish. The price has breached below the support line.<\/p>\n